China exports surge, imports rise

BEIJING: China exports grew at the fastest pace in 19 months in October, while imports also rose, official data showed on Saturday, as the world’s second largest economy continued to recover after being hit hard by the coronavirus crisis earlier this year. Exports in October rose 11.4 per cent from a year earlier, beating analysts’ expectations of a 9.3 per cent increase and quickening from a solid 9.9 per cent increase in September. The surge in exports pushed the trade surplus for October up to $58.44 billion, compared with the poll’s forecast for a $46 billion surplus and a $37 billion surplus in September. China’s trade surplus with the United States widened to $31.37 billion in October from $30.75 billion in September. China’s exports have stayed largely resilient amid the COVID-19 pandemic, as strong demand for medical supplies and reduced manufacturing capacity elsewhere worked in China’s favour. — Reuters